"We have enjoyed a very exciting and challenging period in Oxford these past three years," said chairman Bleddyn Phillips.

"We need to recognise that perhaps the degree of support, both in terms of ground attendance and commercial sponsorship, may not have been quite as extensive as we might have hoped or wished for.

"We believe we have made a considerable contribution to the community in Oxfordshire, both in terms of local clubs and schools, and we feel privileged and pleased to have been able to make such contributions over the past three years to these communities."